It begins with the acquisition (through direct negotiation or competitive auction) of oil and gas exploration rights. The owners of mineral rights are usually states, with which oil companies have to draw up contracts stipulating the rights of the respective parties. In particular, the contract must stipulate the area where exploration is to be carried out, the duration of the contract, minimum work and expenditure commitments, how any resulting production profit will be split between the parties, and how much tax the company will have to pay. Generally speaking, since the Second World War states have no longer been content to issue exploration and production licences on the basis of royalties alone. They almost alwayswant a direct share of the company's profits from the operation in hand. There are also production sharing and service contracts. Here, companies do not own the mineral rights but instead work on contract for the host country's state-owned oil company. The next stages in the petroleum cycle are exploration, development, production and marketing. Exploration: Exploration begins with geophysical prospecting, which includes locating  traps (reservoir rocks that enable oil and gas to form and accumulate). The purpose of exploratory drilling is to identity the type and features of the trap and to ascertain whether hydrocarbons and are present and in what quantity. Development: To extract oil and gas the deposit has to be brought on line by drilling the right number of wells and installing equipment to separate out and deal with unwanted components (solid particles, water, salts, etc.). Production: Once the development stage is complete, production can begin. Hydrocarbons are extracted, processed and exported for sale by pipeline or ship.

2002 Fortum Petroleum Acquisition

Marco Mangiagalli CFO Documents Acquisition of FORTUM PETROLEUM AS pdf 465 KB Acquisition of FORTUM PETROLEUM AS pdf 465 KB 2002 Fortum Petroleum Acquisition Overview Documents (1) [...] 2002 Fortum Petroleum Acquisition 2002 Fortum Petroleum Acquisition Overview In detail: the date of the event and a list of speakers the presentation ...

20 November 2002 eni.com Section: enipedia

The regulation of chemical substances in the Refining & Marketing sector

and users of chemical substances in the context of REACH regulations table of descriptors used for petroleum products list of recorded substances On 1 June 2007, the REACH-Regulation (EC) No. 1907/2006 came [...] their use are available on the ECHA website. We indicate by way of example some descriptors used ...

2 February 2017 eni.com Section: enipedia

Giuseppe Ricci

refinery, before becoming involved in the creation and consolidation of the joint venture with Kuwait Petroleum at the Milazzo refinery. In 2000 he returned to head office as where he was responsible for Refining [...] particularly challenging assignment both from a managerial perspective and in terms of the refining cycle and ...

12 September 2016 eni.com Section: company

Eni Award winners 2011 in Turin to talk about their scientific research

2011 in Turin to talk about their scientific research San Donato Milanese (Milan), 10 June 2011 - A cycle of seminars organized for the Eni Award 2011 finishes today at 11 AM in Turin at the Castello del [...] way we consume energy. Somorjai explains his research on the development of new ...

10 June 2011 eni.com Section: enipedia

Eni’s activities in Nigeria

owned company. In January 2017 , Eni signed a Memorandum of Understanding with the Nigerian National Petroleum Corporation (NNPC) to promote new activities that can significantly boost Nigeria's social and economic [...] rehabilitation and enhancement of Port Harcourt refinery; the fast track development of the Okpai combined cycle power plant by ...

12 May 2016 eni.com Section: enipedia

Eni’s sustainability projects in Myanmar

issues that may affect the project during its life cycle facilitate a proactive development in relations that can become an asset during the life cycle of the project. Farm Recovery Project In Jult 2015, [...] transferring technological know-how to local staff . We have also sponsored three Masters in Integrated Petroleum Geosciences ...

5 October 2016 eni.com Section: enipedia

Green Diesel and Eni Diesel +

monoxide, and up to 20% of engine out particulate. Moreover, thanks to a more sustainable production cycle, it helps to reduce CO 2 emissions on average by 5%. At the engine level, cold starts are facilitated [...] explains how ENI made the decision to revamp its Venice refinery, which was becoming ...

12 July 2017 eni.com Section: Innovation

Eni’s sustainability projects in Mozambique

(2 JP in Geosciences), the Politecnico di Torino (3 JP in Petroleum Engineering) and the China University of Petroleum-Beijing (3JP in Petroleum Engineering). At the end of the academic course (lasting [...] programme for the recruitment and support of master students in Petroleum Engineering and Geosciences . The selected universities are ...

12 May 2016 eni.com Section: enipedia

Regulatory norms in Trading & Shipping

substance registration in the REACH regulations and exposure scenarios for substances linked to the oil cycle are to be found in the following websites: https://www.concawe.eu/ (Choose "REACH Implementation", [...] services We operate in the Trading & Shipping through the subsidiary ETS, which handles crude oil and petroleum products, gas ...

12 May 2016 eni.com Section: enipedia

Eni Trading & Shipping: activities, products and services

oil and 20 million tons of petroleum products and petrochemicals* Time charter vessels used for the transport of 8,2 million tons of crude oil and 11.0 million tons of petroleum products* Eni Trading & Shipping [...] commodity markets ETS is engaged in: the marketing of international production of crude oil ...

12 May 2016 eni.com Section: enipedia